Facebook Gets a Multibillion-Dollar Tax Break
February 16th, 2013Via: Bloomberg:
It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.
Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.
German Homeschool Case May Impact U.S. Homeschool Freedom
February 16th, 2013Via: Home School Legal Defense Association:
Uwe and Hannelore Romeike fled from Germany to the United States after their family was vigorously prosecuted (fines, forcible removal of their children, threats of jail and more) for homeschooling. Initially, the Romeikes were granted political asylum, but the U.S. government appealed that decision to the Board of Immigration Appeals. That Board sided with the government. HSLDA then appealed to the Sixth Circuit Court of Appeals—the federal court just below the Supreme Court.
After finishing the final appellate brief last week, HSLDA Founder and Chairman Michael Farris became convinced that the U.S. Attorney General’s argument revealed some very dangerous views of our own government toward our freedom.
Research Credit: alvinroasting
SEC Files Lawsuit Against ‘Certain Unknown Traders’ Over Heinz Call Options
February 16th, 2013*yawn*
Via: CNBC:
Acting just one day after the surprise announcement that H.J. Heinz would be acquired by Warren Buffett’s Berkshire Hathaway and Brazil-based 3G Capital for $23.3 billion, the SEC has gone to court to freeze assets associated with what it calls “highly suspicious options trading.”
Related: Insider Crimes, Funny Money and Options Rackets
Vatican’s New Bank Chief Has Military Ship Links
February 15th, 2013Via: AP:
The Vatican was drawn into a new controversy Friday after acknowledging that its bank’s new president is also chairman of a shipbuilder making warships — a significant conflict for an institution that has long shunned ties to military manufacturing.
The Vatican announced to great fanfare that Pope Benedict XVI had signed off on one of the last major appointments of his papacy, approving Ernst von Freyberg as president of the Vatican’s bank, officially known as the Institute for Religious Works.
The Vatican spokesman was caught off-guard, though, when a journalist noted that the German shipbuilder von Freyberg chairs, Blohm + Voss, is known for its military ship construction.
The Rev. Federico Lombardi demurred and defended the selection. He later issued a statement saying von Freyberg chairs a civilian branch of Blohm + Voss, which repairs and transforms cruise ships and builds yachts — but that the company is currently part of a consortium that is building four frigates for the German navy.
The Vatican and its bank have deep-rooted traditions of steering clear of investments in companies that manufacture weapons or contraceptives, in line with Catholic Church teaching.
Related: Not The Onion: Catholic Church Sells Pornographic Novels in Germany
Berlusconi on Bribery
February 15th, 2013Via: Financial Times:
Former prime minister Silvio Berlusconi has defended the need for bribery in winning contracts for Italy’s multinationals, as politicians campaigning in general elections have been forced to respond to a welter of corruption scandals revolving around the nexus of politics and business.
“Bribes are a phenomenon that exists and it’s useless to deny the existence of these necessary situations when you are negotiating with third world countries and regimes,” Mr Berlusconi, leader of a centre-right coalition and seeking his fourth stint in office, said on Thursday.
Hundreds Injured After Meteorite Crashes in Russia
February 15th, 2013Update: Meteorite Hits Central Russia, More than 500 People Hurt
Via: Reuters:
More than 500 people were injured when a meteorite shot across the sky and exploded over central Russia on Friday, sending fireballs crashing to Earth, shattering windows and damaging buildings.
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DA14, is that you?
Turn the volume down before you play these:
Via: AP:
A meteor streaked across the sky over Russia’s Ural Mountains on Friday morning, causing sharp explosions and reportedly injuring around 100 people.
Fragments of the meteor fell in a thinly populated area of the Chelyabinsk region, the Emergency Ministry said in a statement.
Interior Ministry spokesman Vadim Kolesnikov said 102 people had called for medical assistance following the incident, mostly for treatment of injuries from glass broken by the explosions.
Kolsenikov also said about 600 square meters (6,000 square feet) of a roof at a zinc factory had collapsed.
Missouri House Bill 545 Would Make Possession of Many Semi Automatic Weapons a Felony
February 15th, 2013Good luck with that.
Via: Missouri House of Representatives:
4. Any person who, prior to the effective date of this law, was legally in possession of an assault weapon or large capacity magazine shall have ninety days from such effective date to do any of the following without being subject to prosecution:
(1) Remove the assault weapon or large capacity magazine from the state of Missouri;
(2) Render the assault weapon permanently inoperable; or
(3) Surrender the assault weapon or large capacity magazine to the appropriate law enforcement agency for destruction, subject to specific agency regulations.
5. Unlawful manufacture, import, possession, purchase, sale, or transfer of an assault weapon or a large capacity magazine is a class C felony.
Ben Zygier: Prisoner X
February 14th, 2013Via: Reuters:
An Australian immigrant, reported to have been recruited by Israel’s Mossad spy agency, was charged with grave crimes before he committed suicide in an Israeli jail, one of his lawyers said on Thursday.
The closely guarded case has raised questions in Australia and Israel about the suspected use by the Mossad of dual Australian-Israeli nationals and the circumstances behind the 2010 detention and death of 34-year-old Ben Zygier.
Israel on Wednesday broke its silence over an Australian Broadcasting Corporation (ABC) report which said that Zygier, who moved to Israel, was jailed in isolation over suspected misconduct while spying for the Mossad.
Partially lifting a gag order on the case, an Israeli court said a dual-nationality citizen had been imprisoned secretly under a false name for “security reasons”, and found dead in his cell in what was eventually ruled a suicide.
Israeli criminal attorney Avigdor Feldman said he met Zygier, dubbed “Prisoner X”, a day before his death.
USC: New Lithium Ion Battery Design
February 14th, 2013Via: USC:
Researchers at USC have developed a new lithium-ion battery design that uses porous silicon nanoparticles in place of the traditional graphite anodes to provide superior performance.
The new batteries — which could be used in anything from cellphones to hybrid cars — hold three times as much energy as comparable graphite-based designs and recharge within 10 minutes. The design, currently under a provisional patent, could be commercially available within two to three years.
Intel’s New TV Box Watches You
February 14th, 2013Via: Register:
Intel has confirmed it will be selling a set-top box direct to the public later this year, along with a streaming TV service designed to watch you while you’re watching it.
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Huggers points out that the camera will have a physical shutter on the front, which can be closed, and that having the box recognise the viewers is simply easier than maintaining separate accounts, but Intel accepts that there’s a public-relations challenge ahead.
